Krafty Entertainment Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 14547498

		31 May 2025		31 May 2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		330,000		370,000
Investments	5		115,967		-

			445,967		370,000
CURRENT ASSETS
Debtors	6	265,438		93,734
Cash at bank and in hand		31		3,515

		265,469		97,249
Creditors: Amounts Falling Due Within One Year	7	(548,157 )		(110,685 )

NET CURRENT ASSETS (LIABILITIES)			(282,688 )		(13,436 )

TOTAL ASSETS LESS CURRENT LIABILITIES			163,279		356,564

Creditors: Amounts Falling Due After More Than One Year	8		(155,869 )		(402,804 )

NET ASSETS/(LIABILITIES)			7,410		(46,240 )

CAPITAL AND RESERVES
Called up share capital	9		1,000		1,000
Profit and Loss Account			6,410		(47,240 )

SHAREHOLDERS' FUNDS			7,410		(46,240)

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Krafty Entertainment Limited

Balance Sheet (continued)

As At 31 May 2025

For the year ending 31 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

J Warrington

Director

2 December 2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Krafty Entertainment Limited is a private company, limited by shares, incorporated in England & Wales, registered number 14547498 . The registered office is 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The Directors have considered the foreseeable future and are of the opinion that the company is a going concern, and has their support.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.4. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.

2.5. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.7. Debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts

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Krafty Entertainment Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 May 2025

2.8. Creditors

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 5 (2024: 4)

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 June 2024	400,000

As at 31 May 2025	400,000

Amortisation
As at 1 June 2024	30,000
Provided during the period	40,000

As at 31 May 2025	70,000

Net Book Value
As at 31 May 2025	330,000

As at 1 June 2024	370,000

5. Investments

	Unlisted
	£
Cost
As at 1 June 2024	-
Additions	115,967

As at 31 May 2025	115,967

Provision
As at 1 June 2024	-

As at 31 May 2025	-

Net Book Value
As at 31 May 2025	115,967

As at 1 June 2024	-

Investments comprises of a 26.25% equity holding in Sports First TV Pty, a company incorporated in Australia.

6. Debtors

	31 May 2025	31 May 2024
	£	£
Due within one year
Trade debtors	61,220	7,197
Other debtors	204,218	86,537

	265,438	93,734

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Krafty Entertainment Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 May 2025

7. Creditors: Amounts Falling Due Within One Year

	31 May 2025	31 May 2024
	£	£
Trade creditors	98,737	98,484
Bank loans and overdrafts	1,498	991
Other loans	2,612	-
Other creditors	420,942	11,210
Taxation and social security	24,368	-

	548,157	110,685

8. Creditors: Amounts Falling Due After More Than One Year

	31 May 2025	31 May 2024
	£	£
Other creditors	155,869	402,804

9. Share Capital

	31 May 2025	31 May 2024
	£	£
Allotted, Called up and fully paid	1,000	1,000

10. Post Balance Sheet Events

Other creditors consist of a loan from ConroyCo Ventures amounting to £267,000. Creditors also consist of a director’s loan from John Warrington amounting to £305,870.

In the post balance sheet period, £118,050 of the loan from Conroy Ventures was converted to Preference Shares. £100,150 of the director’s loan to John Warrington was also converted to Preference Shares.

11. Related Party Transactions

J Warrington

The above is a related party by virtue of being a director.

At the balance sheet date, the director was owed £305,870 (2024 - £402,804) by the company.

No interest is being charged on this loan

ConroyCo Ventures

The above is a related party by virtue of being a shareholder.

During the year ConroyCo Ventures, a US company K Conroy is a Director of, has loaned a total of £267,000 to the company.

R Jukes

The above is a related party by virtue of being a shareholder.

During the year Andromedia Ltd, a company R Jukes is a Director of, has charged at arm’s length £Nil (2024 - £1,539) for consultancy

A Evangelou

The above is a related party by virtue of being a shareholder.

During the year A K E Tax & Accountancy Ltd, a company A Evangelou is a Director of, has charged at arm’s length £5,075 (2024 - £6,240) for accountancy services.

12. Ultimate Controlling Party

The company is controlled by its Directors

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